How the “Vanity Economy” Is Impacting Retail

Social media and its influencers have turned appearance into a powerful consumer category, and shopping centers offering such services are the beneficiaries, according to a recent CBRE report.

Influencer marketing, celebrity beauty partnerships and growing interest in health and wellness have fueled what CBRE calls the “vanity economy,” which encompasses beauty services, cosmetics and specialty fitness retailers.

Consumers spent about $132 billion on appearance-enhancing products in 2025, up from $86 billion in 2020. Those categories also accounted for 37.5% of total leased space as of Q2 2026, according to CoStar data cited by CBRE.

Where the Numbers Are

The global beauty market is now valued at approximately $450 billion, according to McKinsey data included the CBRE report. That market is expected to grow at an annual rate of about 5% through 2030.

Cosmetics are one major contributor, as consumer spending on these products increased 38% over the past five years to $25.4 billion.

Furthermore, brick-and-mortar stores remain the primary channel for consumers to buy their beauty products, accounting for 74% of sales. Physical stores also give consumers a place to discover new products and replenish products they already use.

Services are another vanity economy component, consisting of beauty and nail salons and barbershops, is expected to grow by 10% annually, according to Kentley Insights, as introduced in the CBRE report.

Additionally, consumers spent $45.7 billion on fitness centers in 2025. CBRE said these centers can generate regular visits that benefit other shopping-center tenants.

What It Means for Retail

For shopping-center owners and operators, beauty and wellness tenants can help generate traffic and increase dwell time, creating what CBRE describes as a complementary retail ecosystem.

Beauty services and boutique fitness can also be concentrated in markets with favorable demographics. That makes these operators more than just another tenant category: Their presence can signal the strength and potential of a particular retail trade area.